Spanish police seize bitcoin mining centers, arrest 30 for money laundering

Spanish police seized six bitcoin mining centers and arrested 30 people accused of using bitcoin mining in a money laundering scheme, Reuters reports.

The money laundering was part of a broader plot to to illegally decode and distribute pay-TV content, which the Spanish police investigated with Spain’s tax office. Along with using the bitcoin mining centers to launder their proceeds, the suspects also allegedly invested in banking products, luxury cars and property.

The police said they have so far seized 31,320 euros ($34,903) in bitcoins, cash, motorbikes, luxury cars and a small aircraft.

The arrests occurred in Madrid, Barcelona, Valencia and Cordoba. The six bitcoin mining operations that were seized were also fraudently using vast amounts of electricity, Reuters reports.

Earlier this year, police in the Netherlands similarly arrested several people for using bitcoins for money laundering.

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Read more ... source: TheBitcoinNews